by Bottrell WealthLevels of care Care options include in-home care and residential care providing standard accommodation and personal services. Residents pay for optional additional services. In-home Care Four levels of care: Basic Low level Intermediate High Best suited for Elderly person/s capable of living safely and independently in their own home. What it includes Actual services included […]
by Bottrell WealthAccording to the Australian Bureau of Statistics, in 2017 almost 3.8 million Australians were aged 65 and over. Consider for a moment: this figure shows those people contemplating aged care for elderly family members are fast approaching the age when they’ll need it themselves. Sobering thought. What this means is that as aged care becomes […]
by Bottrell WealthThe first step – Assessment Illness, disability or the passing of the years can make it difficult for you or your loved one to maintain an independent lifestyle. The ideal is to remain in one’s own home for as long as is reasonable and safe, but knowing when independence is no longer feasible is the […]
by Bottrell WealthWho decides what happens to your superannuation savings when you die? You may think that you do, but that isn’t always the case. The ultimate decision may be made by someone you don’t even know – the trustee of your superannuation fund. Let’s look at how you can have greater control. BINDING DEATH BENEFIT NOMINATIONS […]
by Bottrell WealthThe attractiveness of superannuation as an investment and savings vehicle is well known. As we mentioned earlier, although the federal government places limits on the amount of tax-effective contributions we can make, the ability to structure insurance arrangements through super remains. HOW DOES INSURANCE THROUGH SUPER WORK? The types of insurances considered here are limited […]
by Bottrell WealthIf you are earning more than you need to live comfortably, salary sacrificing may be an attractive option to reduce your tax, boost your superannuation and prepare for a more comfortable retirement later on. Salary sacrificing simply involves having part of your salary paid into a superannuation fund by your employer rather than receiving it […]
by Bottrell WealthDespite frequent changes to its governing rules, superannuation remains, for most people, a tax-effective environment in which to save for retirement. Here’s a quick Q&A on the what, why and how of contributing to superannuation from this point on. WHY SHOULD I CONTRIBUTE TO SUPER? Some super contributions and the investment earnings within super […]
by Bottrell WealthTaking control of your super A popular choice for managing superannuation is to take personal control via a self-managed superannuation fund (SMSF). Although membership is limited to a maximum of four people per fund, the Australian Tax Office (ATO) reports there are over half a million SMSFs, representing more than a million members. It estimates […]
by Bottrell WealthInvesting in your future. The government regularly reminds us that each Australian must take responsibility for funding their future. Regardless of when you will be able to access your super, or when you choose to stop working, you need to be aware of how your superannuation is being managed and if the final balance will […]
by Bottrell WealthWhy consolidate? Many people have accumulated multiple super accounts from changing jobs and have lost track of how many they actually have. It is important to consolidate your super into one account, but why? Having one super account means you will save money by only paying fees for one account, there will be less paperwork […]